He is already down over 250K from his equity peak i think. Losing 33% of your account in one month is though.. for anyone, and he was already down a lot before that anyway. Neke, question.. what is the current drawdown from previous years peak equity (less withdrawals etc)?
I once lost 64% of my equity peak... That was when I bottomed out... and regained everything I had lost and slightly more... I'm now back down to 75% of my new equity peak...
exactly. painful, but within the range of what we have seen. the account is getting smaller. may want to reduce the size somewhat from totally crazy to semi-crazy. the show must go on!
One mistake I've seen you make several times is shorting stocks with stellar earnings. This strategy will get you burnt everytime.
Keep an eye on BAC July 11 calls. This is the last of the banks that hasn't moved. I'm expecting a big move once it cracks 11.20 line. You'll have a straight line to 12. You can make 3 times your money on this trade.
this was a week a monkey with a bell could not have avoided making money. really, at some point you need to turn off the black boxes and simply LOOK at the market.
why Not go with the trend this week? you have to use common sense. its end of the quarter with light volume easy to push the market in one direction. One having money does not equate to trading smarts. Best to always trade price action & go with the trend .
Hindsight is obviously 20/20, but wtf are you doing shorting NKE there? If you want to fade it, at least wait for some sort of selling! And then to hold to 90 is just hoping for God to bail you out. You are throwing around too much of your account to be just waiting for it to come back to you. Got to be on the right side of momentum when you are using that much of your capital. But entertaining as always.
What are the automated trades you are currently making? Are they not part of a "system"? Just wondering why you want to make sure this new system is ready, when the current system doesn't appear to be and you're still willing to use it on a real account?